LANXESS COMPLETES ACQUISITION OF MAJORITY SHARE IN PETROFLEX
LANXESS AG has successfully completed the acquisition of an
approximate 70% holding in Petroflex S.A., Latin America’s biggest rubber
producer, for an estimated €200
million. Petroflex S.A. will be
included in LANXESS’s consolidated financial statements from the second quarter
of 2008.
“Petroflex ideally complements our product portfolio and strengthens our position in one of the world’s most important growth markets,” said Axel C. Heitmann, chairman of the LANXESS Board of Management. “In this way, we are decisively reinforcing our position in Latin America, and we welcome our new employees with whom we want to continue growing.”
In 2007, Petroflex achieved sales equivalent to €535 million with 1,300 employees, and the group has three production sites in Brazil: Cabo (Federal State of Pernambuco), Duque de Caxias (Federal State of Rio de Janeiro), and Triunfo (Federal State of Rio Grande do Sul).
“Petroflex ideally complements our product portfolio and strengthens our position in one of the world’s most important growth markets,” said Axel C. Heitmann, chairman of the LANXESS Board of Management. “In this way, we are decisively reinforcing our position in Latin America, and we welcome our new employees with whom we want to continue growing.”
In 2007, Petroflex achieved sales equivalent to €535 million with 1,300 employees, and the group has three production sites in Brazil: Cabo (Federal State of Pernambuco), Duque de Caxias (Federal State of Rio de Janeiro), and Triunfo (Federal State of Rio Grande do Sul).
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